Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Ryman Healthcare lifts annual profit 43%

Ryman Healthcare lifts annual profit 43% as it benefits from new villages, property gains

By Tina Morrison

May 15 (BusinessDesk) – Ryman Healthcare, New Zealand’s largest listed retirement village operator, lifted profit 43 percent as it gained more revenue from a larger base of villages and the value of property increased.

Net income rose to $194.8 million, or 39 cents a share, in the 12 months ended March 13, from $136.7 million, or 27.3 cents, a year earlier, Christchurch-based Ryman said in a statement. Revenue from ordinary activities rose 12 percent to $203.2 million while the value of properties increased by $85.1 million.

Ryman acquired six new sites in New Zealand during the year, extending its land bank earmarked for development to 4,208 beds and units from 2,438 a year earlier. Retirement villages are benefiting from an increase in average life spans which is stoking demand from the elderly, with the number of New Zealanders aged over 65 forecast to increase by 20,000 per annum.

Ryman increased its annual building target to 850 beds and units a year in New Zealand by 2017, from a rate of 700 a year.

Ryman has now expanded to Australia, with the first residents moving into its Melbourne village this month and the company has now bought another site in the eastern suburbs of Melbourne, it said today.

“We’re still learning about Australia but our experience so far has exceeded our expectations and given us the confidence to expand,” Chairman David Kerr said.

In the past year, the number of sales of occupation right agreements slipped to 977 from 985 although fee revenue rose to $368.2 million from $345.6 million.

The company’s total retirement village units and residential beds rose 8.6 percent to 6,724 as retirement village units increased 11 percent to 4,207 and residential care beds rose 4.9 percent to 2,517.

Ryman will pay a final dividend of 6.2 cents a share on June 20.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news